Jazz Pharmaceuticals (NASDAQ:JAZZ) Releases FY 2024 Earnings Guidance

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 18.150-19.350 for the period, compared to the consensus estimate of 18.930. The company issued revenue guidance of $4.0 billion-$4.2 billion, compared to the consensus revenue estimate of $4.1 billion. Jazz Pharmaceuticals also updated its FY24 guidance to $18.15-19.35 EPS.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. HC Wainwright cut their price target on shares of Jazz Pharmaceuticals from $204.00 to $200.00 and set a buy rating on the stock in a report on Thursday, March 14th. UBS Group cut their price target on shares of Jazz Pharmaceuticals from $135.00 to $131.00 and set a neutral rating on the stock in a report on Friday, March 1st. StockNews.com raised shares of Jazz Pharmaceuticals from a buy rating to a strong-buy rating in a report on Tuesday, January 30th. Truist Financial reaffirmed a buy rating and issued a $200.00 price target on shares of Jazz Pharmaceuticals in a report on Wednesday, March 20th. Finally, Barclays cut their price target on shares of Jazz Pharmaceuticals from $235.00 to $230.00 and set an overweight rating on the stock in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $195.08.

Jazz Pharmaceuticals Stock Performance

JAZZ stock traded down $0.44 during trading on Wednesday, hitting $110.31. 800,471 shares of the company's stock traded hands, compared to its average volume of 609,028. The company has a quick ratio of 1.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.37. Jazz Pharmaceuticals has a 52 week low of $106.61 and a 52 week high of $146.70. The stock has a fifty day moving average price of $117.63 and a two-hundred day moving average price of $121.44. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.54 and a beta of 0.59.

Jazz Pharmaceuticals (NASDAQ:JAZZ - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The specialty pharmaceutical company reported $4.40 EPS for the quarter, missing the consensus estimate of $4.44 by ($0.04). The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.01 billion. Jazz Pharmaceuticals had a return on equity of 31.27% and a net margin of 10.82%. As a group, equities analysts anticipate that Jazz Pharmaceuticals will post 16.24 EPS for the current fiscal year.

Insider Transactions at Jazz Pharmaceuticals

In other news, CAO Patricia Carr sold 1,936 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total transaction of $231,623.04. Following the completion of the transaction, the chief accounting officer now owns 8,364 shares in the company, valued at $1,000,668.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Patricia Carr sold 1,936 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $119.64, for a total value of $231,623.04. Following the completion of the transaction, the chief accounting officer now owns 8,364 shares in the company, valued at approximately $1,000,668.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philip L. Johnson bought 12,000 shares of the firm's stock in a transaction that occurred on Friday, March 1st. The stock was bought at an average price of $119.65 per share, with a total value of $1,435,800.00. Following the transaction, the chief financial officer now directly owns 27,932 shares in the company, valued at $3,342,063.80. The disclosure for this purchase can be found here. Insiders own 4.40% of the company's stock.

About Jazz Pharmaceuticals

Jazz Pharmaceuticals plc identifies, develops, and commercializes pharmaceutical products for unmet medical needs in the United States, Europe, and internationally. The company offers Xywav for cataplexy or excessive daytime sleepiness (EDS) with narcolepsy and idiopathic hypersomnia; Xyrem to treat cataplexy or EDS with narcolepsy; Epidiolex for seizures associated with Lennox-Gastaut and Dravet syndromes, or tuberous sclerosis complex; Zepzelca to treat metastatic small cell lung cancer, or with disease progression on or after platinum-based chemotherapy; Rylaze for acute lymphoblastic leukemia or lymphoblastic lymphoma; Enrylaze to treat acute lymphoblastic leukemia and lymphoblastic lymphoma; Defitelio to treat severe hepatic veno-occlusive disease; and Vyxeos for newly-diagnosed therapy-related acute myeloid leukemia.

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